Monday, February 26, 2024
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Could this be the week that Blast comes online? In today's news:
Read on! | | 24h Hot Searches Worldwide 🔥 | | Airdrop Season: When Should You Sell? | | 23 out of the 50 biggest airdrops reached peak prices within 2 weeks of trading, such as Blur (+90% by day 6 of trading) and Heroes of Mavia (+217% by day 13).
Given that Optimism took over a year to reach peak gains of 186%, it remains to be seen if more recent airdrops will be able to surpass their current price highs. | | |
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Open the floodgates 🌊 Time to turn on the fee switch! Erin Koen, the governance lead of the Uniswap Foundation, has outlined a proposal to upgrade the protocol's governance system. This upgrade, which aims to motivate and foster a more active governance committee, will also include an upgrade to reward stakers and delegators of the platform's native token, UNI. Specifically, changes will be made to Uniswap's fee mechanism, such that protocol fees will be used to incentivize UNI holders to choose the best delegates. While the snapshot vote has yet to be conducted, much less an on-chain vote, the crypto community has responded quite favorably, as reflected by the price of UNI recently. Since the proposal was announced, the price of UNI skyrocketed by 75.8% from $7.18 to $12.62. Additionally, UNI's price action caused a temporary surge in price for DeFi tokens, especially for other DEXs such as Sushiswap and dYdX.
Editor's Take:
Although turning on the fee switch has been discussed for a while now, there hasn't really been much progress on that front because of the legal and tax ramifications, especially since the Uniswap team is operating out of the United States. So, what changed and why now? Perhaps we will find out soon enough. | | | Airdrops seem to be undergoing a resurgence along with the markets. Check out the top airdrops to watch for in 2024! | | | Truly living up to its name 💣 The first rug-pull of the Blast ecosystem? RiskOnBlast, a GambleFi project based on the Blast Layer-2 network, has seemingly disappeared with 420 ETH (~$1.3M) collected from the presale of their supposed token, RISK.
Two users who deposited more than 20 ETH into the presale contract lost approximately $60,000 each.
Their website and social media, including their X account, have also disappeared. According to Arkham Intelligence, the funds were swapped from ETH into DAI using 1inch and were then moved in batches to a non-custodial crypto exchange called ChangeNOW, as well as MEXC and Bybit.
Interestingly, the project had earlier been promoted by the Blast team and was slated to compete in the Blast's Big Bang competition for developers, but were later disqualified. | | | Manta Pacific is the third-largest Layer 2 after Arbitrum and Optimism. Learn about Manta Network and how it is building a multi-modular system for ZK applications. | | | | | 🦎Tell us what you think! We've just revamped our newsletter with a new and fresh format!
Whether you're a long-time subscriber or just passing by, do let us know if you like the changes and what we can improve on! | |
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